Markets
Hawaii Electric’s Insurance is Fraction of Potential Fire Claims
Nearly two months after the deadly Maui wildfires, Hawaiian Electric Co. revealed the limited scope of insurance coverage it holds in the face of potentially billions of dollars in damage claims. ...
Farmers, USAA Lead Pack in Hiking Homeowners Rates in 2023: S&P
Farmers Insurance Group of Cos. and United Services Automobile Association (USAA) have increased homeowners insurance rates by nearly 15 percent each to lead all other insurers. According to S&P ...
Viewpoint: Get Ready Now for the Soft Market (Because It’s Coming)
While discussing soft market underwriting may seem ill-timed given current strong results and hard market conditions, there are worrying signs that underwriters are beginning to chase market share in ...
Independent Agents Are Shopping Premiums Despite Record High Carrier Satisfaction
Independent insurance agents report unprecedented satisfaction with their carrier partners, but that doesn't mean they aren't keeping their options open due to the rising cost of premiums. According ...
Temporary Fix Keeps National Flood Insurance Operating, But Only Until Nov. 17
Real estate interests and insurance companies that administer National Flood Insurance Program policies are heaving a sigh of relief after Congress approved a last-minute deal to temporarily fund the ...
MGA Skyrisks Officially Launches With Investment, Capacity From Convex Group
Skyrisks Ltd., the London-based MGA and specialist in the advanced air mobility (AAM) sector, has officially launched with capacity and a cornerstone investment from Convex Group, the specialty ...
Progressive Nonrenews 100,000 Homeowner and Dwelling Fire Policies in Florida
Almost two years after Progressive Insurance announced it would stop renewing some homeowners policies in Florida, Flo and crew have dropped another 100,000 homeowner and landlord policies in the ...
Homeowners Unprepared for Non-Weather-Related Water Damage: Report
Homeowners lack preparedness for non-weather-related water damage, even though water damage ranks as the second most prevalent cause of insurance loss claims, according to The Hanover Insurance Group ...